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CAIRO: UAE-based fintech startup Pemo, an all-in-one expense management platform, is planning to start operations in Saudi Arabia in the first quarter of 2023. In an exclusive interview with Arab News, Ayham Gorani, co-founder and CEO at Pemo, said that the company plans to broaden its footprint across the Gulf Cooperation Council and Egypt. “We are preparing for our launch,
While Saudi Arabia’s fintech sector presents opportunities for entrepreneurs, VC investors and consumers, there are specific, long-standing challenges hindering the market’s full potential.
Saudi Arabia recently launched a fintech strategy with the goal of becoming a regional hub for financial technology.
The UAE government has taken various measures to encourage the growth of fintech. In May 2021, the country launched the DIFC Innovation Hub.
Minister of Finance and Chairman of FSDP Committee, Mohammed Al-Jadaan pointed out that the strategy will contribute to realizing the strategic objectives of Saudi Vision 2030.